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7 December 2024 | 150 replies
Counted this as a 45k asset but in truth it could be slightly higher or lower, there is a lack of inventory in this market so I am hopeful it will go for more but I am budgeting 45k.Deal 4 Bought an REO for 12k, rehabbed and all in for 20k, property value is 60k, posable more if we sell as a turnkey to a CA investor.Deal 5 Condo in Chicago, bought NP note (owner died in 2007 and nobody has paid since) paid 22k for the note, property rents in that neighborhood are @ 1,100 a month and the property is worth 60-70k based on estimates from a BP realtor in this market.Deal 6 bought a vacant REO for 5k, paid 7k in back taxes and put 18k into rehab, rented for $875 staring June 1st and worth 60k based on neighborhood comps and feedback from our PM/Realtor.Deal 7 Bought a SFR in souther IL for 12.5k, needs 30k in rehab and BPO's came in at 65k and 70k, I counted this as a 20k value since we will need to put more into it.
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9 December 2024 | 20 replies
In my opinion, you can make as much money buying cheap houses as you can buying expensive homes.Affordability is an issue for a lot of Americans so I will argue cheaper cities performed better over the past 10 years than more expensive markets / houses.San Francisco, CA, Seattle, WA and New York, NY are considered expensive markets.If I look at Zillow's price estimate for homes comparing 2016 and 2024San Francisco - Average Price of home was $1,145,000 and now its 1,262,000(Increase of 10%)Seattle - Average Price of home was $561,000 and now its $848,000(51%)New York - Average price was $561,000 and now its $766,000(37%)Memphis, TN, Indianapolis, IN and Clevlenad, OH are considered cheaper markets.Zillow is showing more appreciation in these markets over the same time periodMemphis - Average price was $73,000 and now its $149,000(104%)Indianapolis - Average price was $107,000 and now its $225,000(110%)Cleveland - Average price was $54,000 and now its $109,000(101%)Population increases and job growth are two indicators that result in appreciation.Two of the cheaper markets listed above(Memphis and Cleveland) are not increasing in population.
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5 December 2024 | 34 replies
There is ZERO chance on a solar purchase they will guarantee your total electric bill.
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29 November 2024 | 27 replies
This would be quite the analytical marvel to even effectively ESTIMATE this with any reasonable level of certainty/confidence (even for someone appropriately trained).
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2 December 2024 | 4 replies
Just because Zillow estimates a lower value, doesn't mean people will offer lower than the list price.Also, be careful about the laws with the association and renters.
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3 December 2024 | 10 replies
most LTRs just don't cash flow right now, and the less you put down, the less chance you have at them cash flowing.
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2 December 2024 | 21 replies
I think if you sell now, there's a good chance you’ll look back in 5-10 years and regret letting go of such good debt.
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2 December 2024 | 2 replies
I’ve done some research and have identified a few markets with potential, but I’m still trying to figure out the do’s and don’ts of buying distressed properties and how to maximize my chances of success.For example, what market factors should I be looking at beyond the average sale price?
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4 December 2024 | 25 replies
If you are not on top of so many things it a great chance you can lose.
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30 November 2024 | 0 replies
The broker’s expertise in structuring these documents can significantly enhance the investor’s chances of obtaining the necessary funds.Communication is another cornerstone of a successful partnership between private money brokers and real estate investors.